BASSETERRE St. Kitts, June 23rd, 2015 -- In a recent press release theEastern Caribbean Central Bank (ECCB) has informed that effective July 1st 2015 it will no longer issue one-cent and two-cent coins to banks operating within the Eastern Caribbean Currency Union (ECCU).
The release further stated that “The withdrawal of the coins will affect cash transactions only. Transactions using cheques and electronic payment, such as debit and credit cards, and wire transfers, will not be affected due to the fact that transactions using those methods of payments can be settled to the exact amount.”
In accordance with the above, please note that SKELEC will be implementing this new initiative commencing from the stated effective date.
SKELEC will accept payment on accounts with the use of one cent and two cent coins. However, we will not return change in said amounts.
The total cash amount due to SKELEC will be rounded up or down to the nearest five-cent increment. Customers will have the option of having the balance credited or debited to their account for future reference.
Example #1: Payment of $100.28 to settle the bill.
Example # 2: if your bill is $100.28, you can pay $100.25 and have the three cents debited to your account which will be applied to the following month’s electricity bill amount.
Example #3: Or you can pay $100.30 and have the two cents credited to your account, which will then be deducted from the following months’ electricity bill amount.
SKELEC wishes to remind customers that we will not be accepting large sums of one-cent and two-cent. The local banks will facilitate these amounts.
SKELEC thank you for your kind understanding and cooperation during this transitioning period.
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